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Jakarta, Pintu News – The crypto market is under pressure again, especially in the meme coin sector after a large sell-off by whale investors. One of those affected was Pippin (PIPPIN), a Solana-based meme coin, which experienced a significant drop in a short period of time. This has sparked concerns whether the meme coin trend in cryptocurrencies is starting to lose momentum.

Pippin (PIPPIN) has dropped more than 10% in the last 24 hours and is trading around $0.0512 or around Rp870. This decline coincided with a large sell-off by whales that reduced their holdings by 25%. This shows the diminishing confidence of large investors in the asset.
In addition, trading volumes also fell by around 18% to $40.2 million, reflecting weakening market interest. This drop in liquidity is often an early signal of a broader bearish trend. In the crypto context, whale movements are often an important indicator of market direction.
Also Read: Bitcoin ETF Facts Rp950 Trillion: Crypto Beats Gold as a Hedge?

Market sentiment towards Pippin (PIPPIN) is increasingly negative as short positions in the derivatives market increase. Data shows that selling pressure has been more dominant than long positions in recent days. This indicates that market participants are starting to speculate on further price declines.
Some of the important price levels that traders pay attention to include:
The dominance of short positions indicates that the market is currently bearish. If the key support is broken, a potential deeper drop could occur in the near future.

Despite being under pressure, Pippin (PIPPIN) still has a chance to recover if it is able to maintain important support areas. Currently, the price is moving in a consolidation phase between $0.047 to $0.0599. This phase is often the next directional determination point in price movements.
If the price manages to break the upper resistance, the upside potential of up to 82% is open. However, if it fails to hold at the $0.0427 support, the risk of a sharp decline increases. These conditions make PIPPIN an asset with a high risk profile in the current cryptocurrency market.
The whale sell-off and increasing bearish pressure suggest that the meme coin market is still in a weak phase. In the crypto ecosystem, large investor movements are often indicators of broader trend changes. Therefore, it is important that you pay attention to these dynamics before making any decisions.
While the chance of a rebound remains, the downside risk is still quite high in the short term. A cautious and data-driven approach is key in dealing with cryptocurrency volatility. By understanding market movements, you can make more rational decisions.
Also Read: 5 Facts about Bitcoin Rp1.13 Billion: When Everything is Bearish, Is it a Bullish Signal?
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.
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Kegiatan perdagangan aset crypto dilakukan oleh PT Pintu Kemana Saja, suatu perusahaan Pedagang Aset Keuangan Digital yang berizin dan diawasi oleh Otoritas Jasa Keuangan serta merupakan anggota PT Central Finansial X (CFX) dan PT Kliring Komoditi Indonesia (KKI). Kegiatan perdagangan aset crypto adalah kegiatan berisiko tinggi. PT Pintu Kemana Saja tidak memberikan rekomendasi apa pun mengenai investasi dan/atau produk aset crypto. Pengguna wajib mempelajari secara hati-hati setiap hal yang berkaitan dengan perdagangan aset crypto (termasuk risiko terkait) dan penggunaan aplikasi. Semua keputusan perdagangan aset crypto dan/atau kontrak berjangka atas aset crypto merupakan keputusan mandiri pengguna.